Dang, I feel like you are walking a mile in my moccassin's. About this time last year, we found a super sharp Catalina 34 with all the bells and whistles that we were very excited about, only to find the boat had a blister problem. The boat was pristine otherwise, and the surveryor felt it was a good candidate for a full peel, being above average in every other way. Unfortunately, the owner was not willing to adjust the price enough (frankly he wasn't willing to negotiate at all) to warrant us taking on the problem, so we moved on. I know two other deals on that boat feel through and don't know if it ever sold or was just taken off the market.

By the way, I was quoted about $300-350/ft for a peel and relaminate job. Here is a link to a fairly detailed explanation of that process for anyone interested.